Zoom image | View original size
The SHoP-designed 111 West 57th Street, “the world’s skinniest skyscraper,” is at risk of never being completed due to soaring construction costs, the New York Post has reported. With fewer than 20 of the supertall skyscraper’s 82 stories currently constructed, a lawsuit filed by investment group AmBase is claiming the project is already $50 million over budget due in part to “egregious oversights” including neglecting to factor in the cost of construction cranes. AmBase’s suit is targeting the project developers, Michael Stern’s JDS Development Group and Kevin Maloney’s Property Markets Group. As reported by The Real Deal earlier this month, the two parties had developed a contentious relationship as early as last year when AmBase sued the developers for allegedly diluting their stake in the project. View more View full description
Share Share